Home prices rose 4.7 percent year over year in April, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, released Tuesday. Home price gains were up slightly from the month before, when the year-over-year increase was reported at 4.6 percent.
“April’s housing price data continue to be remarkably stable,” Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, said in a statement. “The National Composite Index rose by 4.7 percent in April 2020, with comparable growth in the 10- and 20-City Composites (up 3.4 percent and 4.0 percent, respectively).”
“In all three cases, April’s year-over-year gains were ahead of March’s, continuing a trend of gently accelerating home prices that began last fall. Results in April continued to be broad-based,” Lazzara added. “Prices rose in each of the 19 cities for which we have reported data, and price increases accelerated in 12 cities.”
The S&P/Case-Shiller U.S. National Home Price Index is a composite of single-family home price indices that is calculated every month; the indices for the nine U.S. Census divisions are calculated using estimates of the aggregate value of single-family housing stock for the time period in question.